Today there is growing debate over the social responsibilities a business has to the world at large. The views expressed in this NY times article align with those from “The Social Responsibility of Business is to Increase Profits.” Both articles have a firm belief that in order for a company to maintain its ethical integrity, earning profit must be its sole motivation. As Milton Friedman argued: “For executives to devote resources to anything else would amount to doing charity with other peoples money.” This summarizes the ethos of both the articles in question.
Although, a recent return to social responsibility in businesses, as shown from the increase of companies signing the UN global standards on human rights, may be evidence that considering workers rights or sustainability might help the businesses in the long-term. This model has worked in the past as demonstrated by Henry Ford’s increase of wages in 1914. Ford’s increase of wages was still motivated by self-interest. He wanted to encourage productivity, eventually allow his workers to afford Model-T’s themselves, and decrease the dividend he would need to pay the Dodge brothers. This model of merging social responsibility with self-interest may be the answer to this contested topic.
http://www.nytimes.com/2014/07/16/business/the-do-good-corporation.html?module=Search&mabReward=relbias%3Ar%2C%7B%222%22%3A%22RI%3A14%22%7D&_r=1